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☆ With 'Flamin' Hot' movie set to premiere at SXSW, its producer tackles claims about the central character's role in creating the spicy Cheetos flavor and reveals how Eva Longoria won the director job
▼ + stars: | 2023-03-10 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

The movie "Flamin' Hot" celebrates Mexican heritage and the invention of Flamin' Hot Cheetos. An LA Times report raised doubt about the role of the film's protagonist, Richard Montañez, in creating the flavor. Impressed with the unlikely entrepreneur, Enrico gave it a try — and thus, Flamin' Hot Cheetos were born, and Montañez's career took off. Eva Longoria directed the new film "Flamin' Hot." The LA Times article, amongst journalists and amongst this small group of people, may get some traction.

☆ Cheddar News has seen so many exits that managers have asked staffers to delay scheduled vacations, while promising that reinforcements are on the way
▼ + stars: | 2023-03-08 | by ( Reed Alexander | ) www.businessinsider.com time to read: +7 min

Cheddar News has lost more than 10 newsroom staffers since the start of 2023, sources told Insider. As of March, Cheddar appears to have plans to hire at least five news-related roles, according to Altice's jobs portal. a former Cheddar producer said. The two executives are said to have denied speculation that Altice has any plans to combine Cheddar and News 12. Sources previously told Insider that, throughout 2022, the Cheddar newsroom had contracted by roughly a third.

☆ People magazine offered voluntary resignation packages alongside January layoffs, and now insiders say rumors are swirling of more staff cuts ahead
▼ + stars: | 2023-02-24 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

The resignations, in exchange for severance packages, were offered the same day Dotdash Meredith laid off 7% of staff. In January, Dotdash Meredith cut 7% of its headcount during a difficult squeeze for the media industry, as ad spending has tumbled amid an uncertain economy. Dan Wakeford, a 7-year veteran of the publication who had served as editor-in-chief since 2019, departed last year after the formation of Dotdash Meredith under IAC. Severance pay will be paid in installments on the regular biweekly payroll schedule. KandisDo you work at People magazine or Dotdash Meredith and have insight to share?

☆ The Intercept laid off half a dozen staffers last month, culling the video team and other key positions from the nonprofit investigative newsroom
▼ + stars: | 2023-02-08 | by ( Reed Alexander | ) www.businessinsider.com time to read: +3 min

The Intercept laid off half a dozen staffers last month, Insider has learned. The layoffs mean the investigative outlet no longer has a video team and cut other key positions. Amid a spate of layoffs that have rocked newsrooms over the past few months, the nonprofit newsroom The Intercept laid off half a dozen staffers in January, Insider has learned. "We can't build something if we're losing colleagues at a rate like this," the union organizers wrote in the mid-January note. Are you a media insider who's been affected by recent layoffs, or thinks a staff cut might hit your company?

☆ Cheddar News pushed its anchors to think and act like influencers, insiders say, with some on-air hosts hiring agencies at their own expense to boost their social-media followings
▼ + stars: | 2023-01-18 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

Cheddar News was founded with the vision of taking on business news big dogs like CNBC. But the vision has been beset by staff defections, complaints of low morale, and editorial red flags. Some on-air talent felt "pressure" to act like social-media influencers, Insider's reporting showed. Sign up for our newsletter to get the news, trends and strategies that advertising and media pros want to know — delivered weekly to your inbox. An Altice spokesperson said in an emailed statement earlier this month that there were "inaccuracies" in Insider's reporting, but did not provide specifics.

☆ Just 40% of people say their lives will be 'better off' in the next 5 years, a new global survey finds, with trust in business growing and trust in government falling
▼ + stars: | 2023-01-17 | by ( Reed Alexander | Read More | Read Less | ) www.businessinsider.com time to read: +4 min

Just 40% of respondents in a new global survey believe they'll be "better off" in the next five years. The annual Edelman Trust Barometer also found growing trust in business versus the public sector. Just four in 10 respondents who participated in the Edelman Trust Barometer for 2023 predicted that they and their families will be "better off" in five years — a dramatic 10-point reduction from last year. Edelman published its 2023 Trust Barometer this weekend, coinciding with a constellation of other warning signs that further economic pain may be on the way. The Edelman Trust Barometer, which this year polled more than 32,000 respondents in 28 countries, found that trust is tilting away from the public sector.

☆ British police officer pleads guilty to 49 counts of rape, sexual assault, and other crimes, as head of London's Metropolitan Police says: 'We've let women and girls down'
▼ + stars: | 2023-01-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

David Carrick, a former British police officer, pled guilty to dozens of counts of rape and sexual assault. By failing to stop Carrick sooner, the head of the Metropolitan Police said the agency "let women and girls down." David Carrick, 47, a former armed officer with the Metropolitan Police, pled guilty to six counts, including rape and sexual assault, at Southwark Crown Court in London on Monday. He previously pled guilty to committing 43 offenses — including 20 counts of rape and several counts of sexual assault as well as controlling or coercive behavior — in December, the UK's Crown Prosecution Service said. Metropolitan Police/Media UseGoing forward, the Metropolitan Police said, Carrick's crimes have laid the foundation for new protocols to deal with offenders within law enforcement's own ranks.

☆ In leaked audio, Cheddar bosses address newsroom burnout and outline their goals, but offer no concrete solutions for declining morale and ongoing exits
▼ + stars: | 2023-01-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

Insider obtained leaked audio of an hour-long all-hands meeting at Cheddar News. Leadership also addressed employees' concerns about the state of the company, including under-staffing, burnout, and a recent wave of departures. Three more staffers have either exited Cheddar's newsroom or are imminently on the way out this week, Insider has learned. A spokesperson for Altice USA offered no comment. Are you an insider at Cheddar News or Altice USA?

☆ 'Entourage' star Adrian Grenier traded Hollywood for a Texas ranch. Read the 21-page deck that helped him launch a production company and inspire others to embrace sustainable living.
▼ + stars: | 2023-01-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

Adrian Grenier, star of HBO's hit series "Entourage," now lives at Kintsugi, a ranch outside Austin. He's taking viewers into his sustainable lifestyle with a new production company, Earth Speed Media. "Entourage" star Adrian Grenier went from La La Land — to working the land. Named Kintsugi, a Japanese word for a traditional art of repairing pottery, the ranch is a far cry from life in Hollywood. To coincide with Earth Speed Media's launch, the company shared the deck that helped it raise more than $150,000 in pre-seed funding last year.

☆ Inside Goldman Sachs' layoffs: 'Every 10 minutes, I just kept hearing that someone was being let go'
▼ + stars: | 2023-01-11 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

"Every 10 minutes, I just kept hearing that someone was being let go," one employee said. Goldman, which reports fourth-quarter earnings next week, has had the added problem of having lost billions on its nascent consumer banking experiment. "We've just been hearing that today was doomsday and that we'd start hearing cuts this morning. Every 10 minutes, I just kept hearing that someone was being let go," this person said. Consumer banking associateGoldman Sachs' spokesman Tony Fratto said: "We know this is a difficult time for people leaving the firm.

☆ Inside the turmoil at Cheddar News, where an editorial 'identity crisis' and misfired social media strategy divided the newsroom and drove staffers to the exits
▼ + stars: | 2023-01-09 | by ( Reed Alexander | Elaine Low | ) www.businessinsider.com time to read: +21 min

16 insiders described unrest and discord partly fueled by the site's revamped social media strategy. Malaspina's plan was for Cheddar to look and feel like a social media platform and to position its stars as influencers. Concerns inside Cheddar intensified when Malaspina, a newcomer to journalism, refocused its coverage on social media content. Multiple segments and even an entire show — "Trending" at 7 p.m. — centered on social media trends and TikTok challenges. It's very troubling to think that news professionals would inflate or distort their social media followings.

☆ Banks' war against fintechs is a battle they're destined to lose
▼ + stars: | 2023-01-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

And while this shouldn't bother banks — they make plenty of money doing what they do best — this is Wall Street. In fact, the face of Wall Street, JPMorgan CEO Jamie Dimon, literally declared war on fintechs on an earnings call in 2021. But, as Insider's Bianca Chan and Reed Alexander recently outlined in a fantastic feature, banks' bid to topple fintechs is hopeless. Whether it's JPMorgan's digital-only bank Finn or, more recently, Goldman Sachs' Marcus, banks' attempt to cosplay as fintechs rarely ends well. Click here to read more about why banks are doomed to keep failing in their fight against fintechs.

☆ Banks vs. Fintechs: Why all the billions in the world can't help Wall Street crush its digital rivals
▼ + stars: | 2023-01-05 | by ( Bianca Chan | Reed Alexander | ) www.businessinsider.com time to read: +15 min

To compete, banks have written fat checks to acquire fintechs — tech, talent, and all. But on Wall Street, old habits die hard, and Goldman has struggled to make Marcus, a big fintech bet, a success. Since the beginning of the pandemic, Wall Street leaders have been at the helm of a push to get their employees back to their desks. It's more that the very things that make Wall Street, well, Wall Street are preventing it from embracing the ethos of Silicon Valley. And perhaps, for Wall Street, that's the moral of the story.

☆ Wall Street internship checklist: How to land a competitive 2024 summer job in investment banking, trading, or asset management
▼ + stars: | 2023-01-04 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +2 min

Summer internships at Wall Street banks are among the most sought-after undergrad opportunities. If you're a college sophomore who's even remotely interested in working on Wall Street one day, then listen up. The 2024 summer internship season is starting now — from JPMorgan to RBC. Check out our robust Wall Street internship coverage here — and, if you're in the running for an internship for next summer, get in touch with this reporter to share your story. Insider's Wall Street reporter Emmalyse Brownstein can be reached via email at ebrownstein@insider.com, or SMS/the encrypted app Signal at (305) 857-5516.

For the last five years, Insider has been spotlighting up-and-comers on Wall Street. We've asked the rising stars about the books that informed both their careers and personal growth. If you're struggling to come up with a good gift for a successful dealmaker or trader, we've got you covered. Over the last few years, we've asked our Wall Street rising stars to recommend books to our readers and how these must-reads helped them succeed in their careers. So if you have an overachieving Wall Streeter in your life, look no further than this selection of 35 books below.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ 2023 is shaping up to be a big year for dealmaking in live sports. Here's why.
▼ + stars: | 2022-12-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Big deals for the big (and little) screen. Next year is shaping up to be a big one for media deals. Like many other industries, media quickly turned quiet on the dealmaking front this year as the economy soured. However, a stabilization of interest rates, along with money burning a hole in investors' pockets, could lead to a big 2023, insiders say. The landscape for media deals is fascinating when you consider the two opposing forces, as Lucia pointed out to me.

☆ Crypto advertising is under fire after the FTX implosion, but firms like Binance, Grayscale, and OKX are pouring money into marketing to win back consumer trust
▼ + stars: | 2022-12-06 | by ( Lara O'Reilly | Reed Alexander | Lauren Johnson | ) www.businessinsider.com time to read: +5 min

The bitcoin crash and FTX implosion massively dented the crypto advertising boom. But fewer crypto advertisers can also create an advantage for those still trying to get their messages to consumers. And Dinu added that crypto companies' efforts to advertise to restore trust could persist "well beyond" the next six months. Some crypto companies are still launching splashy campaigns, similar to crypto ad campaigns from the beginning of the year. "Crypto companies have to stop talking about themselves and start talking about how cryptocurrency or blockchain fits into normal people's lives."

☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

☆ Disney succession plan is a top priority for returning CEO Bob Iger: 'People would struggle to write down three names' at the company who could step up
▼ + stars: | 2022-12-03 | by ( Lucia Moses | Reed Alexander | ) www.businessinsider.com time to read: +6 min

Former Disney CEO Bob Iger is back in his old job, in a move that shocked the media world. From cost cuts to streaming to a solid future succession plan, here's what they hope the CEO will tackle. Following the stunning November 20 announcement that former Disney CEO Bob Iger would be returning to his old job, the happiest place on earth might actually be Wall Street. "What I like about Bob Iger is Bob Iger has always been direct, he's been honest, he's been willing to make tough choices," Michael Nathanson, a senior research analyst and co-founder of the firm, said in a CNBC interview. Are you a Disney insider with insight to share about Bob Iger's return?

☆ Crypto firms like Binance, Grayscale, and OKX are pouring money into marketing to regain trust and save their companies from the fallout of the FTX implosion
▼ + stars: | 2022-12-01 | by ( Lara O'Reilly | Reed Alexander | Lauren Johnson | ) www.businessinsider.com time to read: +5 min

☆ From books on the science of sleep to fantasy football strategy podcasts, here's what Wall Street's bright stars are reading and listening to
▼ + stars: | 2022-11-30 | by ( Alex Morrell | Alyson Velati | Asia Martin | ) www.businessinsider.com time to read: +1 min

Insider selected 25 young professionals 35 and under for its rising stars of Wall Street list. We asked the up-and-comers to tell us what book they last read and their takeaways. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking — delivered daily to your inbox. We asked 2022's rising stars of Wall Street about the books they most recently picked up and the podcasts they turn to regularly. Their selections range from books on building "your second brain" to fantasy football strategy shows.

☆ Read the pitch deck for a startup that's aiming to disrupt film production in Hollywood with an app that's 'like fantasy football for film buffs'
▼ + stars: | 2022-11-29 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Startup production company Legion M is crowdsourcing funds and promising to give movie fans greenlight power. Legion M, founded by Paul Scanlan and Jeff Annison, lets investors buy shares for as little as $40. Legion M now has four films in post-production slated to be released in 2023, the cofounders added. Legion MLegion MLegion MLegion MLegion M'A company with a built-in audience for everything it creates'One slide spells out the potential power of one million fan-investors — as consumers, promoters, and predictors of successful projects. Legion MThe Nicolas Cage film 'Mandy' was an early success for Legion MLegion MLegion MLegion MLegion MLegion M says its annual revenue has surpassed $1 millionLegion MLegion MLegion M

☆ Trust your gut, tout your wins, and don't waste your boss' time: 20 rising-star execs at Netflix, HBO, Hulu, and more offer their top career advice for getting ahead in Hollywood
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Claire Atkinson | Elaine Low | ) www.businessinsider.com time to read: +2 min

In October, Insider profiled 26 rising stars of the entertainment industry. These leaders work across content, strategy, and business development roles at top entertainment companies. Insider asked them to share their best advice for career success. In October, Insider profiled 26 rising stars of the entertainment business — talented strivers from hot companies in Hollywood like HBO, Universal, and Netflix. From obsessing over your passions to following your gut instincts to being the spokesperson for your own achievements, here's what they told us.

☆ How FTX's implosion put crypto news sites like CoinDesk, The Block, and Decrypt in the spotlight as they work to fend off an ad slump and conspiracy theories about their coverage
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +15 min

Crypto news sites like CoinDesk, The Block, and Decrypt have dominated coverage of the FTX implosion. Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. "We cover the good, the bad and the ugly," Dan Roberts, the editor-in-chief of Decrypt, told Insider. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet.

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